DAVENPORT & Co LLC Sells 20,124 Shares of McCormick & Company, Incorporated (NYSE:MKC)

DAVENPORT & Co LLC decreased its holdings in McCormick & Company, Incorporated (NYSE:MKC - Free Report) by 22.9% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 67,746 shares of the company's stock after selling 20,124 shares during the quarter. DAVENPORT & Co LLC's holdings in McCormick & Company, Incorporated were worth $5,576,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Savvy Advisors Inc. bought a new position in McCormick & Company, Incorporated during the fourth quarter worth $466,000. Sowell Financial Services LLC acquired a new position in shares of McCormick & Company, Incorporated in the 1st quarter valued at about $260,000. Somerville Kurt F grew its position in shares of McCormick & Company, Incorporated by 34.2% during the 4th quarter. Somerville Kurt F now owns 96,074 shares of the company's stock valued at $7,325,000 after buying an additional 24,467 shares during the last quarter. SBI Securities Co. Ltd. bought a new stake in shares of McCormick & Company, Incorporated during the 4th quarter valued at about $234,000. Finally, Dempze Nancy E raised its stake in McCormick & Company, Incorporated by 28.4% during the fourth quarter. Dempze Nancy E now owns 26,337 shares of the company's stock worth $2,008,000 after acquiring an additional 5,833 shares during the period. Hedge funds and other institutional investors own 79.74% of the company's stock.

Analysts Set New Price Targets

A number of research analysts recently commented on MKC shares. UBS Group assumed coverage on McCormick & Company, Incorporated in a research note on Monday, June 16th. They set a "neutral" rating and a $83.00 price objective for the company. Citigroup reduced their price target on shares of McCormick & Company, Incorporated from $80.00 to $77.00 and set a "neutral" rating for the company in a report on Tuesday, June 17th. Finally, Argus cut shares of McCormick & Company, Incorporated from a "buy" rating to a "hold" rating in a report on Thursday, March 27th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, three have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, McCormick & Company, Incorporated currently has an average rating of "Hold" and a consensus target price of $84.13.

McCormick & Company, Incorporated Stock Performance

Shares of McCormick & Company, Incorporated stock traded down $1.29 during midday trading on Friday, hitting $75.28. The company had a trading volume of 1,785,186 shares, compared to its average volume of 2,054,643. McCormick & Company, Incorporated has a 1-year low of $69.00 and a 1-year high of $86.24. The business's 50 day simple moving average is $74.40 and its two-hundred day simple moving average is $76.57. The stock has a market cap of $20.20 billion, a PE ratio of 26.14, a P/E/G ratio of 3.68 and a beta of 0.68. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.68 and a quick ratio of 0.27.

McCormick & Company, Incorporated (NYSE:MKC - Get Free Report) last announced its quarterly earnings data on Thursday, June 26th. The company reported $0.69 earnings per share for the quarter, topping the consensus estimate of $0.65 by $0.04. The company had revenue of $1.66 billion for the quarter, compared to analyst estimates of $1.67 billion. McCormick & Company, Incorporated had a return on equity of 14.43% and a net margin of 11.50%. McCormick & Company, Incorporated's revenue for the quarter was up 1.0% compared to the same quarter last year. During the same quarter last year, the firm earned $0.69 EPS. As a group, equities analysts predict that McCormick & Company, Incorporated will post 3.07 EPS for the current fiscal year.

McCormick & Company, Incorporated Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, July 21st. Stockholders of record on Monday, July 7th will be paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.39%. The ex-dividend date of this dividend is Monday, July 7th. McCormick & Company, Incorporated's dividend payout ratio (DPR) is currently 62.50%.

Insider Activity at McCormick & Company, Incorporated

In related news, insider Katherine Jenkins sold 7,642 shares of the company's stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $76.38, for a total transaction of $583,695.96. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 23.80% of the stock is owned by insiders.

About McCormick & Company, Incorporated

McCormick & Co, Inc engages in the manufacturing, marketing, and distribution of spices, seasoning mixes, condiments, and other flavorful products to retail outlets, food manufacturers, and foodservice businesses. It operates through the Consumer and Flavor Solutions segments. The Consumer segment sells spices, seasonings, condiments, and sauces.